Is 08053, NJ a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
Seller's
Market
Buyer's
Market
Difference Since April 2023
Since last year, 08053 has remained a Seller's Market.
Key Takeaway
08053 is a Sellers Housing Market, which means prices tend to be higher and homes sell faster.
Housing Prices in 08053, NJ
How much do homes in 08053, NJ cost?
Median Sold Price
$410,060
$223/sqft
Based on all homes sold in the last 12 months.
Difference Since April 2023
Key Takeaway
Homes in 08053 have sold for 12.9% more than they did a year ago.
Summary: The median home sold price in 08053 was $410,060 in April 2024, up 12.9% from last year, and the median price per square foot was $223.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | Apr 2023 | Apr 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | $162K | $182.5K | +12.7% |
| 2 Bedrooms | $225K | $274K | +21.8% |
| 3 Bedrooms | $350K | $393.2K | +12.4% |
| 4 Bedrooms | $490K | $512K | +4.5% |
| 5+ Bedrooms | $555K | $680K | +22.5% |
Summary: 08053 housing prices by bedroom type for April 2024 compared to the previous year: The home price of 1 bedroom homes increased by 12.7%, 2 bedroom homes increased by 21.8%, 3 bedroom homes increased by 12.4%, 4 bedroom homes increased by 4.5%, and 5+ bedroom homes increased by 22.5%.
Housing Supply in 08053, NJ
How many homes are available in 08053, NJ?
Number of Homes For Sale
| Mar 2024 | Apr 2024 | CHANGE |
|---|---|---|
| 130 | 131 | +0.8% |
Summary: The 08053 real estate market had 131 homes for sale in April 2024, a 0.8% increase compared to March 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Mar 2024 | Apr 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 2 | 2 | 0.0% |
| 2 Bedrooms | 22 | 24 | +9.1% |
| 3 Bedrooms | 63 | 53 | -15.9% |
| 4 Bedrooms | 40 | 49 | +22.5% |
| 5+ Bedrooms | 3 | 3 | 0.0% |
Summary: The 08053 housing inventory by bedroom type for April 2024 compared to the previous month: The inventory of 1 bedroom homes remained the same, 2 bedroom homes increased by 9.1%, 3 bedroom homes decreased by 15.9%, 4 bedroom homes increased by 22.5%, and 5+ bedroom homes remained the same.
Number of Homes Sold
| Mar 2024 | Apr 2024 | CHANGE |
|---|---|---|
| 36 | 35 | -2.8% |
Asking Price vs. Sold Price
3 Homes Were Sold
Under Asking
4 Homes Were Sold
At Asking
28 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in 08053, you could pay more than the asking price. 80% of homes here sold above asking price last month.
Summary: A total of 35 homes were sold or pending in 08053 in April 2024, down by 2.8% month-over-month. Of the 35 sold homes, 9% were sold under asking, 11% were sold at asking, and 80% were sold over asking.
Days on Market for 08053, NJ
How long does it take to sell a home in 08053, NJ?
Average Sale Time
| Apr 2023 | Apr 2024 | CHANGE |
|---|---|---|
| 18 Days | 17 Days | -7.4% |
Summary: Homes in 08053 had an average of 17 days on market in Apr 2024, down by 7.4% compared to last year.
Breakdown of Home Sale Times
30 Homes Were Sold
Under 30 Days
3 Homes Were Sold
In 30 - 90 Days
2 Homes Were Sold
Over 90 Days
Key Takeaway
Many homes in 08053 are selling fast, if you're buying plan to act quickly.
Summary: During April 2024, 35 homes were sold in 08053; 86% of homes were sold within 30 days, 9% of homes were sold within 30 to 90 days, and 6% of homes were sold over 90 days.
The data relating to real estate for sale on this web site comes in part from the Internet Data exchange (“IDX”) program of the Monmouth/Ocean MLS Monmouth County Association Board of Realtors. IDX information is provided exclusively for consumers' personal, non-commercial use and may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing. Real estate listings held by other brokerage firms are indicated by detailed information about them such as the name of the listing firms. Information deemed reliable but not guaranteed. Copyright © 2024 Monmouth/Ocean MLS Monmouth County Association Board of Realtors. All Rights Reserved.